The balance sheet and income statement for Joe's Fish Hut are presented below: Joe's Fish Hut Balance Sheet As at July 31 2019 2018 ASSETS Current Assets Cash $191,702 $55,700 Accounts Receivable $24,400 $16,900 Merchandise Inventory $24,300 $29,500 Total Current Assets $240,402 $102,100 Property, Plant & Equipment $130,000 $198,000 Less: Accumulated Depreciation $-28,200 $-21,300 TOTAL ASSETS $342,202 $278,800 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable $31,700 $41,000 Bank Loan-Current Portion $6,300 $6,300 Total Current Liabilities $38,000 $47,300 Bank Loan-Long-Term Portion $71,000 $43,000 TOTAL LIABILITIES $109,000 $90,300 Shareholders' Equity Share Capital $84,000 $56,100 Retained Earnings $149,202 $132,400 TOTAL SHAREHOLDERS' EQUITY $233,202 $188,500 TOTAL LIABILITIES AND EQUITY $342,202 $278,800 Joe's Fish Hut Income Statement For the Year Ended July 31, 2019 Sales $131,000 COGS $85,200 Gross Profit $45,800 Operating Expenses. Insurance Expense $890 Rent Expense $4,220 Salaries Expense $5,680 Telephone Expense $900 Interest Expense $1,360 Depreciation Expense $6,900 Total Operating Expenses $19,950 Operating Profit Before Tax $25,850 Income Tax Expense $9,048 Net Profit (Loss) $16,802 Complete the following ratio analysis. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. a) Calculate the gross profit margin for the 2019. Gross Profit Margin: % b) Calculate the net profit margin for 2019. Net Profit Margin: % c) Calculate the return on equity for 2019. Return on Equity: % d) Calculate the return on assets for 2019. Return on Assets: 200 % e) Calculate the asset turnover ratio for 2019. Asset turnover: times